Survey for Preparation of 5-Year Investment Promotion Strategy (2023 – 2027)
Objectives

Thailand Board of Investment (BOI) is currently in the process of formulating a 5-Year Investment Promotion Strategy (2023 - 2027) to determine the directions of investment promotion for the next 5 years. The policies are designed to be in alignment with the 20-Year National Strategic Plan (2018 - 2037), other national policy frameworks e.g.: The 13th National Economic and Social Development Plan (draft) (2023 - 2027), and also to account for the current changing world situation. In this connection, BOI welcomes comments and suggestions from all relevant private and public agencies and stakeholders, so that BOI can develop strategic frameworks regarding policies, criteria, and investment incentives. This survey includes 5 parts as follows:

  • Part 1: General information of the survey respondent
  • Part 2: Opinions on the factors influencing investment decision(s) including obstacles to investment
  • Part 3: Opinions on (draft) 5-Year Investment Promotion Strategy Framework (2023-2027)
  • Part 4: Opinions on the directions of investment promotion policies
  • Part 5: Opinions on current investment promotion criteria / incentives / measures

Thank you for taking the time to complete this survey.

Part 1: General Information of the survey respondent

Instruction: Please select the statement that most closely applies to you and fill out texts in the provided space for your opinions.

Which of the following categories best describes your position in the company, in which you primarily work?
Please select the industry relevant to your company or your profession. (This question is for an investor and an employee of the promoted company only)
Part 2: Opinions on the factors influencing investment decisions including obstacles to investments

Instruction: Please rank the following aspects in order of importance.

No Questions
Factors, which are influencing investment decisions
1. Please rank the following factors influencing investment decisions in order of importance ( 1-the most important to 6-the least important)
Investment incentives
Sources of funding and financial supports
Factors of productions/services such as supporting industries, raw materials/parts, skills/numbers/wages of labors, and other expenses
Market Demand and competitions
Adequacy and quality of infrastructures e.g. utilities and logistics.
Policies and regulations conducive to investment such as government supports, law and free trade agreements.
Additional comments/suggestions (if any)
Factors, which are problems and obstacles to investments in Thailand
2. Which of the following factors do you think are obstacles to investing in Thailand that should be resolved. possibly (more than one choice)
Additional comments/suggestions (if any)
Part 3: Opinions on (draft) 5-year investment promotion strategy framework (2023-2027)

Instruction: Please rank the following activities under each strategic issue in order of importance

Strategic Issues and Activities
Strategy 1: Promote investments for restructuring and development of targeted industries (Targeted Industries)
Please rank the following activities in order of importance (from 1-the most important to 3- the least important)
Investment Promotion for sustainability (Sustainability)
Investment Promotion according to the Bio-Circular-Green (BCG) economic model
Investment Promotion for targeted industries according to Thailand 4.0 guidelines
Additional comments/suggestions (if any)
Strategy 2: Promoting investment to develop targeted areas (Targeted Areas)
Please rank the following activities in order of importance (from 1-the most important to 3- the least important)
Investment Promotion in special economic zones e.g. the Eastern Economic Corridor (EEC), the Special Economic Corridor (SEZ), and the border Special Economic Zones, etc..
Investment Promotion to reduce the inequality and create stability in the areas e.g. provinces with a low per capita income, southern border provinces, etc.
Promotion of Investments to develop industrial areas, technologies, and innovations e.g. industrial estates, science and technology zones, innovation districts, etc.
Additional comments/suggestions (if any)
Strategy 3: Supporting developments of technologies and innovations to increase the values of products and services. (Technologies and Innovations)
Please rank the following activities in order of importance (from 1-the most important to 3- the least important)
Supporting the development of the targeted technologies (Core Technology)
Promoting research and developments (Research & Developments)
Upgrading industries by adopting Industry 4.0 oriented technologies (Industry 4.0)
Additional comments/suggestions (if any)
Strategy 4: Development of Thai human resources and attracting foreign personnel to accommodate the targeted industries (Human Resources)
Please rank the following activities in order of importance (from 1-the most important to 2-the least important)
Development of highly-skilled workers
Attracting foreign highly-skilled experts / talents
Additional comments/suggestions (if any)
Strategy 5: Promoting investment in infrastructures and improving the ecosystems to facilitate investment (Infrastructures, Law & Supports)
Please rank the following activities in order of importance (from 1-the most important to 3- the least important)
Promoting investment in various infrastructures e.g. digital infrastructure, science and technologies logistics, utilities, tourism, etc.. (Supporting Infrastructure)
Utilizing benefits of trade and investment agreements, economic integration as well as improving relevant laws, rules, and regulations (Trade Agreements, Law and Regulations)
Facilitating support, reducing obstacles, and solving investor problems (Investment Facilitation)
Additional comments/suggestions (if any)
Strategy 6: Reducing inequality, increasing the potential, and strengthening Thai entrepreneurship to advance sustainably
Please rank the following activities in order of importance (from 1-the most important to 3- the least important)
Promoting small and medium enterprises, startups, and community enterprises (SMEs, Startups, and Community Enterprise)
Developing networks and linkages of entrepreneurs and industries (Industrial Linkage Development)
Strengthening Thai entrepreneurship and promoting Thai Investment Overseas (Thai Enterprise Development and Thai Overseas Investment)
Additional comments/suggestions (if any)

Instruction: Please rank the following strategies in order of importance (from 1-the most important to 6-the least important)

Strategy 1: Promoting investments for restructuring and development of targeted industries (Targeted Industries)
Strategy 2: Promoting investment to develop targeted areas (Targeted Areas)
Strategy 3: Supporting the development of technologies and innovations to increase the values of products and services. (Technologies and Innovations)
Strategy 4: Development of Thai human resources and attracting foreign personnel to accommodate the targeted industries (Human Resources)
Strategy 5: Promoting investment in infrastructure and improving the ecosystem to facilitate investment (Infrastructure, Laws & Supports)
Strategy 6: Reducing inequality, increasing the potential, and strengthening Thai entrepreneurship to advance sustainably. (Business)
Part 4 Opinions on the direction of investment promotion policy

Instruction: Please rank the following directions of investment promotion policy for the next 5 years in order of importance (from 1-most important to 5-least important)

Focusing on promoting the development of domestic strengths along with attracting foreign investments.
Focusing on promoting the development of technologies and innovations along with creating long-term sustainability.
Focusing on promoting the development of Thailand’s existing industries with high potential along with developing new domestic industrial bases.
Focusing on promoting the development of SMEs, startups and the grassroots economy along with currently large-scale and high potential corporates.
Focusing on promoting investment in remote areas as well as in well-developed infrastructure zones.
Part 5 : Opinions on current investment promotion criteria / incentives / measures

Description: Current investment promotion general criteria for project approval

  1. The minimum capital investment requirement for each project is 1 million baht (excluding the costs of land and working capital).
  2. For newly established projects, the debt-to-equity ratio must not exceed 3 to 1 Expansion projects shall be considered on a case-by-case basis.
  3. The value-added of the promoted project must not be less than 20% of revenues; except for projects based on agriculture and agricultural products, electronic products and parts, and coil centers, the value-added of which must be at least 10% of revenues.
  4. Modern production processes must be employed.
  5. New machinery must be employed, except in special circumstances, employment of imported used machinery criteria as prescribed in the announcement of the Board of Investment No.2/2557.
  6. Projects must have adequate and efficient environmental protection measures.

Instruction: Please select the statement that most closely applies to you and fill out texts in the provided space for your opinions.

No. Questions Appropriate Not Appropriate Non-Applicable
1. Consideration factors for project approval
- Capital Investment
- Debt to Equity Ratio
- Value-Added
- Production Processes
- Investments in new machinery
- Environmental protection measures
Additional comments/suggestions (if any)
2. Criteria for project approval (If the current criteria are not appropriate, please briefly provide your opinion on how it should be revised.)
- Capital Investment: Minimum 1 million bath (excluding the cost of land and working capital)
- Debt to Equity Ratio: Must not exceed 3 to 1 (for a newly established project)
- Value Added: At least 20% of the revenue (except agriculture and agricultural products, electronic products and parts, and coil centers which are at least 10% of revenue)
Additional comments/suggestions (if any)
Incentives for Investment Promotion
1.
Current investment promotion incentives are appropriate.
Additional comments/suggestions (if any)
2.
The criteria for granting incentives based on the two-group classification is appropriate. (i.e . Group A: shall receive corporate income tax incentives (from 3 – 8 years), machinery, raw materials import duty incentives, and other non-tax incentives. Group B: shall receive machinery and raw materials import duty incentives, and other non-tax incentives)
Additional comments/suggestions (if any)
3.
Granting incentives for the promoted activities should base on the utilization of technology rather than investment value (e.g., Projects which have high investment values but use relatively unsophisticated technologies should not receive incentives for investment promotion).
Additional comments/suggestions (if any)
4.
Granting incentives for the promoted activities should base on the project’s merits contributing to the country orthe industry rather than types of activities. i.e., different projects of the same activity category may receive different incentives).
Additional comments/suggestions (if any)
5. Please rank factors used as consideration criteria for approval of projects, in order of importance (from 1-the most important to 5-the least important)
Minimum Capital Investment
Usage of Technology / Research and Development in the project
Technology Transfers / Cooperation with an Educational Situation
Employment of High Skilled Workers
Locations of Projects (Targeted Areas)
Additional comments/suggestions (if any)
List of Activities Eligible for Investment Promotion
1.
The current activities eligible for investment promotion are appropriate.
Additional comments/suggestions (if any)
2.
Categorization of activities into 8 sections based on industries is appropriate.
Additional comments/suggestions (if any)
3.
Current incentives for the activities which are related to your business, are appropriate.
Additional comments/suggestions (if any)
4.
Current conditions on activities which are related to your business are appropriate.
Additional comments/suggestions (if any)
Current Investment Promotion Measures
1. Please rank investment promotion measures inorder of importance (from 1- the most important to 5-the least important).
Merit-based Incentives on Competitiveness Enhancement (Additional incentives for expenditures on related activities based on the announcement of the Board of Investment No.2/2557; for example, research and development or advanced technological training)
Merit-based Incentives on Decentralization (Additional incentives for investment promotion zones)
Merit-based Incentives on Industrial Area Development
Additional Incentives on Science and Technology Parks
Investment Promotion Measures in the Eastern Special Development Zone (Eastern Economic Corridor: EEC)
Investment Promotion Measure in the Medical Innovation District
Investment Promotion Measure in Special Economic Zones (SEZ)
Investment Promotion Measure for Industrial Development in the Southern Border Provinces
Investment Promotion Measure for SMEs
Investment Promotion Measure for Grassroots Economy
Efficiency Enhancement Measure
Investment Stimulation Measure
Investment Promotion Measure to Encourage Companies to be listed on the Stock Exchange of Thailand (SET) or the Market for Alternative Investment (mai)
Additional comments/suggestions (if any)
Additional Comments (If any)